Transmission of Monetary Policy and Bank Heterogeneity in Colombia
| dc.contributor.author | Ortega Londoño, Carolina | |
| dc.contributor.eafitauthor | cortega1@eafit.edu.co | |
| dc.coverage.spatial | Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees | eng |
| dc.date.accessioned | 2018-10-05T19:34:15Z | |
| dc.date.available | 2018-10-05T19:34:15Z | |
| dc.date.issued | 2018-06 | |
| dc.description.abstract | This study provides evidence of bank heterogeneity in Colombiafor the period 2002-2014 and analyzes how bank-specific character-istics determine the bank-lending channel for monetary policy. Toanalyze bank heterogeneity, this study estimates technical (cost) effi-ciency using Stochastic Frontier Analysis, which also allows for themeasurement of Returns to Scale and a Lerner Index to proxy mar-ket power in the loans market. This study also provides measuresof capitalization, liquidity, and the commonly used ratios of financialand operational efficiency with bank’s balance-sheet data. Further-more, using a long and unbalanced panel, this study finds evidence ofthe existence of a bank-lending channel and finds that this transmis-sion mechanism is determined by bank-specific characteristics. Theresults suggest higher technical and operational efficiency, capitaliza-tion, liquidity and market power, increase the sensitivity of loans dis-bursements to monetary policy shocks, while higher returns to scalelowers this sensitivity. | eng |
| dc.identifier.jel | G21 | |
| dc.identifier.jel | E52 | |
| dc.identifier.jel | E59 | |
| dc.identifier.uri | http://hdl.handle.net/10784/12966 | |
| dc.language.iso | eng | eng |
| dc.publisher | Universidad EAFIT | spa |
| dc.publisher.department | Escuela de Economía y Finanzas | spa |
| dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
| dc.rights.local | Acceso abierto | spa |
| dc.subject.keyword | monetary policy transmission | spa |
| dc.subject.keyword | bank lending channel | spa |
| dc.subject.keyword | bank heterogeneity | spa |
| dc.subject.keyword | bank efficiency | spa |
| dc.title | Transmission of Monetary Policy and Bank Heterogeneity in Colombia | eng |
| dc.type | workingPaper | eng |
| dc.type | info:eu-repo/semantics/workingPaper | eng |
| dc.type.hasVersion | draft | eng |
| dc.type.local | Documento de trabajo de investigación | spa |
Archivos
Bloque original
1 - 1 de 1
No hay miniatura disponible
- Nombre:
- WP-2018-13-Carolina Ortega.pdf
- Tamaño:
- 1.06 MB
- Formato:
- Adobe Portable Document Format
- Descripción:
- Documento de trabajo de investigación
Bloque de licencias
1 - 1 de 1
No hay miniatura disponible
- Nombre:
- license.txt
- Tamaño:
- 2.5 KB
- Formato:
- Item-specific license agreed upon to submission
- Descripción: